Bernanke Urges More Help for Housing Industry

Cleveland, OH, Sept. 29, 2011 -- Federal Reserve Chairman Ben Bernanke on Wednesday urged Congress to provide more help for the housing industry.

Bernanke also said that long-term unemployment is a national crisis and said that Congress should take steps to relieve joblessness by supporting worker retraining and helping the unemployed find work.

Bernanke noted that nearly half, about 45% of the unemployed, have been out of work for at least six months, which is unprecedented in the post-war period in the U.S.

He also advocated disciplined budget policies.

The Fed recently took steps to keep long-term interest rates low.